Category Archives: football betting

football betting

Gaming laws could pose risk for fantasy football craze

Sitting on the sidelines wasn’t an option for Maryland Del. “Some fantasy agreements — especially those in any chance states — violate state law.” 

Much of the confusion over the legality of operating and participating in fantasy league-land centers on murky state gaming laws clashing with broad federal policies. 

“Chance states” are those that prohibit or limit the legality of a player getting paid if a game involves an entry fee or prize, or if the outcome of the game relies on an element of chance. 

Once a novelty game between industry friends, fantasy football has skyrocketed into a national obsession, complete with armchair general managers and game-day experts giddy over calling the shots from their man (and woman) caves. 

Take Florida, for example. 

But managing a dream team of real players could get some betting fans in hot water with the authorities. In states where high-stakes fantasy sports technically falls under the definition of prohibited gambling, players could be risking more than their pride. 

Meale was not able to say how much, if any, of Florida’s resources were spent going after and prosecuting fantasy football participants. 

Arizona, Iowa, Louisiana, Montana and Vermont are among the “chance states,” said Edelman, a law professor at City University of New York, Baruch College, Zicklin School of Business. 

The popularity of the game has given way to countless websites, blogs and magazines. Groupon even featured a special in August that taught newcomers the tactical maneuvers needed for a successful season. 

The trash talk around the water cooler is already underway as hordes of fantasy football players get ready to draft their teams. “For example, Yahoo! is willing to pay cash prizes to contestants in Kansas, even though last fall the Kansas Racing and Gaming Commission had language on its website indicating that pay-to-win fantasy sports games were illegal.” 

Surprisingly, CBS Sports and Yahoo! Sports offer play-for-cash games in Florida, which may be in direct contradiction to the law there. Touchdowns, field goals, yards gained, sacks and interceptions generate fantasy points as sedentary owners go head-to-head each week.

. 1, officially gave sports fans in the state the right to play to win big bucks in fantasy football leagues. 

“Most interesting to me, however, is that even though Yahoo has taken a more risk averse approach than CBS Sports, it still does not outlaw its game in a number of states where some risk still may exist,” Edelman said in his blog. Other states are less clear with the laws they have on the books and what it means for pay-to-play groups. 

Calls to CBS Sports and Yahoo! were not returned.    

The argument some make, though, is that the victor of a fantasy game is determined through skill, not chance. 

But some states like Florida say they want no part of the fantasy phenomenon and have technically banned it. Recently, Yahoo! announced the launch of its Yahoo! Pro Leagues, which are leagues that offer up $500 in cash prices to fantasy football players. 

Sunshine State residents caught betting money on fantasy football leagues could be slapped with misdemeanors. 

Jenn Meale, communications director for Florida Attorney General Pam Bondi, points to a state statute that prohibits residents from playing in fantasy leagues “whereby contestants pay an entry fee for the opportunity to select actual professional sports players to make up a fantasy team whose actual performance statistics result in cash payments from the contestants’ entry fees to the contestant with the best fantasy team.” 

The problem is that the sport has morphed into a billion-dollar betting industry that conflicts with state gaming rules and regulations. 

The law not only extends to office pools that stretch out over a season but also allows players to lawfully compete for cash in high-stakes leagues that only last one day or one weekend.

“In many cases, state regulations are stricter than federal regulations,” law professor Marc Edelman told FoxNews.com. John Olszewski Jr., who successfully got a bill passed in the 2012 state General Assembly that would allow Marylanders to compete for cash and prices in fantasy sports leagues. 

Federally, the law that regulates online gambling — called the Unlawful Internet Gambling Enforcement Act of 2006 — protects fantasy football leagues, though players are supposed to report their winnings to the IRS. Meale did not respond to repeated requests for clarification. 

Olszewski’s law, which went into effect on Oct. The NFL has even gotten into the act with a web site for stats and strategies. 

Typically, in fantasy football, players draft a roster of real NFL players and keep score against each other based on how their players do in real games

Cantor Gaming Announces In-Running Wagering for The NFL Season

The NFL

season is immensely popular with sports betters and we’re excited to

extend our product offerings to The Venetian and Palazzo.”

For more information, visit www.cantorgaming.com

“The addition of “In-Running” is certainly going to enhance our sports

book offering and be a huge hit with the many sports aficionados who

spend time at our properties,” said Robert Goldstein, president of both

The Venetian and Palazzo Las Vegas. We opened the action with the NCAA March Madness Basketball

Tournament, continued throughout the NBA Playoffs, horse racing’s Triple

Crown, and currently offer selected Major League Baseball games. In

addition to NFL games, In-Running will be available for select NCAA

football games this season.

Mr.

The current drive will yield a first down.

The current drive will result in a punt, field goal, touchdown, or an

interception/fumble.

Twenty or more yards will be gained on the next play.

Any field goal attempt will be made or missed.

Cantor Gaming is an affiliate of global financial services provider

Cantor Fitzgerald, which has over 60 years of experience and

unparalleled expertise of highly secure real-time financial transaction

processing, management, and execution. With In-Running, customers can place bets during the

game, so fans can have a stake in the action all the way through the

event,” said Lee Amaitis, President and CEO of Cantor Gaming.

LAS VEGAS–(BUSINESS WIRE)–Cantor Gaming, an affiliate of the global financial services firm Cantor

Fitzgerald, today announced that its extremely popular “In-Running”

sports betting product will be available at The Venetian, Palazzo and

the M Resort Spa Casino in Las Vegas for the 2009 NFL season, beginning

with Tennessee at Pittsburgh on September 10. Amaitis said the bets that will be offered through In-Running are:

. In-Running betting allows

wagering on live sporting events throughout the event. Amaitis added, “In-Running is hugely successful at the M’s Race &

Sports Book. In-Running betting allows wagering on live sporting events throughout

the event.

Full Game Money Line

Full Game Point Line

Full Game Total, Over/Under

First Half Money Line

First Half Point Line

First Half Total Over/Under

“In-Running is particularly well suited for football because of the

popularity of the game and the huge number of football fans interested

in sports betting. “We are constantly looking for

opportunities to add new and exciting amenities to our overall guest

experience and this is the type of “only in Las Vegas” concept that

helps differentiate The Venetian and Palazzo from other properties on

the Strip, and also demonstrates the true uniqueness of Las Vegas and

why there is no city in America quite like it.”

About Cantor Gaming

Through Cantor Gaming’s In-Running, wagers also will be accepted on

whether:

Mr. Cantor is

the first company licensed as a manufacturer, distributor, and operator

of a mobile gaming system by the state of Nevada and remains the world

leader. Cantor was also the first company to introduce in-running

wagering in Las Vegas, at the M Resort Spa & Casino’s Race and Sports

Book. Cantor Gaming offers mobile

solutions to the gaming industry as well as developers of proprietary

casino games including XtraOdds Baccarat(TM) and Bonus Roulette(TM)

California, New York men charged in billion-dollar gambling ring | Reuters

The defendants face up to 25 years in prison if convicted of the top charge of enterprise corruption, prosecutors said. Thompson said he believes the bust is the biggest of its kind to be brought by local prosecutors.

(Reporting by Laila Kearney; Editing by Andrew Hay)

Mitchnick is the suspected leader of the ring, which operated in Brooklyn and other areas, prosecutors said. Additional arrests are expected in the ongoing investigation.

Attorneys for the defendants were not immediately identifiable.

Gordon Mitchnick, 58, Joseph Schneider, 39, Arthur Rossi, 66, and Claude Ferguson, 43, were charged with crimes including enterprise corruption and first-degree promoting gambling in a 57-count indictment, Brooklyn District Attorney Ken Thompson said in a statement.

“Illegal gambling is not a victimless crime,” Thompson said. It was not clear how much money was handled over the life of the operation or for how long it existed. “It preys on peoples’ vulnerabilities and directly leads to money laundering, loansharking and a host of other crimes,” Thompson said.

The group operated several password-protected websites that allowed gamblers to place bets on a series of professional and collegiate sports games, prosecutors said.

NEW YORK Four California and New York men have been charged in an internet-based sports gambling ring that handled nearly $1 billion in bets during a single football season and ran a team of employees in Costa Rica, prosecutors said on Thursday.

The operation accepted $927 million in wagers on National Football League games during the 2015 season, prosecutors said. He is accused of purchasing more than 20 houses to help him launder money. A toll-free number for wagering was also provided.

At its peak, the operation had $200,000 in monthly bills including salaries for a team of employees located in San Jose, Costa Rica, who ran a call center for betters, prosecutors said.

Clients were solicited by word of mouth and on internet gambling forums.

Most forms of gambling are illegal in New York state, with legal gambling limited to Indian reservation casinos, betting on horse races and Las Vegas-style casinos.

By Laila Kearney

| NEW YORK